Sam Bankman-Fried speaks onstage during the first annual Moonlight Gala benefitting CARE – Children With Special Needs – hosted by Michael Cayre, Roy Nachum and MegaMoon Museum at Casa Cipriani on June 23, 2022 in New York City.
Craig Barritt/Getty Images for CARE For Special Children
Sam Bankman-Fried told the New York Times that he’s getting some sleep despite FTX’s implosion.
Bankman-Fried saw 94% of his wealth evaporate and faces multiple probes for allegedly mishandling customer funds.
“It could be worse,” Bankman-Fried told the New York Times.
Last week, Sam Bankman-Fried saw 94% of his wealth evaporate in the span of a few hours, but the disgraced former darling of the crypto world has apparently not lost any shut-eye over the collapse of his empire.
“You would’ve thought that I’d be getting no sleep right now, and instead, I’m getting some,” Bankman-Fried said in an interview with the New York Times on Monday.
Bankman-Fried, whose company FTX was considered one of the most reliable cryptocurrency exchanges, filed for bankruptcy last Friday after the company unsuccessfully searched for an investor to bail it out of a liquidity crisis caused by investors flooding to pull money out of their accounts.
Bankman-Fried and other FTX executives are facing several investigations in the US and the Bahamas for allegedly improperly using billions of dollars of FTX customer money to fund Bankman-Fried’s trading firm, Alameda Research.
“It could be worse,” Bankman-Fried told the New York Times.
FTX did not immediately respond to comment for this story.
Bankman-Fried famously covets his sleep. Many profiles of the former richest man under 30 noted that he kept a beanbag in his office to take power naps between meetings.
Bloomberg reported that Bankman-Fried would occasionally delay important meetings in favor of a nap.